What is the tax on bonk coin?

Secondly, 1% of the token tax is used to buy and burn BONK tokens. Burning tokens is a process where a certain amount of tokens are permanently removed from circulation, reducing the overall supply. This can lead to an increase in the value of the remaining tokens, as demand for a fixed supply increases.

The implementation of this token taxation policy not only benefits holders but also contributes to the stability and growth of the ecosystem. By reducing short-term speculation and encouraging long-term holding, it promotes a healthier and more sustainable market environment.

BTCC, a leading cryptocurrency exchange, offers a diverse range of services that cater to the needs of traders and investors alike. Among its offerings are spot trading, futures trading, and a secure wallet solution. These services are designed to provide users with a seamless and efficient experience in the cryptocurrency market.

One of the unique aspects of BTCC's platform is its innovative token taxation policy. Specifically, a 5% token tax is imposed on all buy and sell transactions conducted on the exchange. This tax is not simply a fee charged to users; rather, it serves a dual purpose.

Firstly, the collected tax is redistributed back to the holders of the tokens, creating a system of passive income for those who hold onto their tokens. This incentivizes long-term holding and reduces the pressure on the market caused by short-term traders.